Wyoming State Office
| Contacts: | Beverly Gorny | |||
| 307-775-6158 |
BLM Oil and Gas Lease Sale Nets over $9 Million,
State of Wyoming to Get Nearly Half
The Bureau of Land Management (BLM) generated more than $9 million for leasing rights and rental fees on parcels offered at the BLM's quarterly federal oil and gas lease auction held in Cheyenne on May 1. Almost half of the bid and rental receipts go to the State of Wyoming.
Bids totaling $8,972,448.00 ranged from the federally mandated minimum of $2.00 per acre to a high bid of $4,650.00 per acre. Successful bidders also pay a $150 per parcel one-time administrative fee and a yearly rental of $1.50 per acre for the first five years of the lease and $2 per acre in years six through 10. A total of 196,254.730 acres in 134 parcels were sold.
The National System of Public Lands yielded $40 billion worth of energy and non-energy minerals in Fiscal Year 2010. The extraction of these resources and their introduction into the market boosted the American economy by approximately $103 billion.
The next BLM Wyoming oil and gas lease sale is scheduled for Tuesday, Aug. 7, 2012, in Cheyenne.
May 1, 2011
Wyoming Competitive Sale Results SummaryParcels Offered
148
Parcels Sold
134
% Parcels Sold
90.54%
Acres Offered
222,643.310
Acres Sold
196,254.730
% Acres Sold
88.15%
Average Bid/Acre
For Acres Offered
For Acres Sold
$40.30
$45.72Average Bid/Parcel
For Parcels Offered
For Parcels Sold
$60,624.65
$66,958.57Highest Bid/Acre
$4,650.00
Parcel with High Bid/Acre
41
Highest Bid/Parcel
$4,278,000.00
Parcel with High Total Bid
41
Total Bonus Bid
$8,972,448.00
Total Rental Due
$294,445.50
Total Administrative Fees Due
$20,100.00
Total Receipts Due
$9,286,993.50
The BLM manages more than 245 million acres of public land, the most of any Federal agency. This land, known as the National System of Public Lands, is primarily located in 12 Western states, including Alaska. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. In Fiscal Year (FY) 2011, recreational and other activities on BLM-managed land contributed more than $130 billion to the U.S. economy and supported more than 600,000 American jobs. The Bureau is also one of a handful of agencies that collects more revenue than it spends. In FY 2012, nearly $5.7 billion will be generated on lands managed by the BLM, which operates on a $1.1 billion budget. The BLM's multiple-use mission is to sustain the health and productivity of the public lands for the use and enjoyment of present and future generations. The Bureau accomplishes this by managing such activities as outdoor recreation, livestock grazing, mineral development, and energy production, and by conserving natural, historical, cultural, and other resources on public lands.
Wyoming State Office 5353 Yellowstone Cheyenne, WY 82009